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Former Member
Feb 09, 2011 at 04:14 PM

Change Dep Ket to LINS/LINR - Not calculating correct Depreciation...



We are trying to accelerate the depreciation on some of our assets.


Asset Acquisition value = £7,141.24

Useful Life = 7 years

Capitalised 18.09.2006

We know that this asset will become obsolete at the end of this month P01 (P12 was last month and is still open, we are trying to post for P12 - depreciation not yet run)

I have change the depreciation key to LINS/LINR and the useful life to 4 years and 6 months (end P1 2011).

I see in AS02 that there is a catch up amount (or correction amount) of depreciation planned in P12 (which is fine, that is what we want), and the planned depreciation ends after P01 2011 (which is also correct).

But, the depreciation amount is wrong (both catch-up and planned P01). This results in a residual value that does not go anywhere, and when I run an asset report for the end of 2011, there is a book value on this asset.

We have run AFAR, and there is no change.

Does anyone know what is wrong?